Themis Medicare inks pact with Nevakar for injectable products -:- Equity Research

Drug firm Themis Medicare has signed an agreement with Nevakar LLC to further develop, manufacture and market latter's injectable products in the US and some other select countries. "Under the agreement Themis will develop a selected number of innovative, differentiated injectable products that will be further developed, manufactured and commercialised by Nevakar in the US and select global markets," Themis Medicare said in a filing to BSE. The New Jersey-based specialty pharmaceutical firm Navakar has expertise in commercialising pharma products in the US as well as global markets for many years, it added. Themis Medicare makes active pharmaceutical ingredients which account for a significant portion of its revenue. It is also in manufacturing and marketing formulations. The company also co-markets its research based formulations with other pharma companies in India and abroad. Shares of Themis Medicare were trading at Rs 595 per scrip in the afternoon trade on BSE, up 6.25 percent from its previous close.